Why and How the Value of Science-Based Firms Violates Financial Theory: Implications for Policy and Governance

Why and How the Value of Science-Based Firms Violates Financial Theory: Implications for Policy and Governance

How and why the positive net effect of science related activities substantially increases the value that would be anticipated by the financial theory that seems to work so well for other fields is considered here. A qualitative analysis of 25 small listed biotechnology R&D firms illustrates tha...

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Bibliographic Details
Main Authors: Sergey Bredikhin, Jonathan Linton, Thais Matoszko
Format: Article
Language:English
Published: National Research University Higher School of Economics 2017-03-01
Series:Foresight and STI Governance
Subjects:
firm value
biotechnology R&D
financial theory
volatility of market value
R&D intensive firms
Online Access:https://foresight-journal.hse.ru/article/view/19341
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